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relating to the fiscal cliff is dana bash. she joins me now from washington. dana, great to see you again. tell me does even a band-aid approach work? >> it's going to be tough. this is all math. but it really has to do with the math with regard to votes. and democrats especially who i'm talking to in the senate which is probably where this will originate, the reality is that democrats don't hold a very big majority. her going to need to have a handful of republicans to cross party lines and vote with them on the whole concept of raising any taxes. especially what the president wants which is something that is raising taxes on all americans making more than $250,000. that's the senate. never mind the house, which of course, made clear to the house speaker that they won't even go for something that's a million dollars or more when it comes to tax increases. that was last week. >> dana, you were saying that when you were reporting on it when it was breaking that evening, you called that devastating for john boehner. now that house republicans have clearly rebelled against john boehner, can
movement with regard to the lack of a solution on the fiscal cliff has been more of what we've seen not more of what we think we're going to see. i'm referring specifically to some of the special dividends, some of the tax issues, some of the buy backs, some of the way, you know, states and trusts are being manipulated and moved to deal with the potential worst case scenarios. i think in terms of the market our guests just referred to some of the volatility. you know, as congress called it a day or as the boehner bill didn't pass the plan b. but i remember the t.a.r.p. vote. that was some real movement. >> yes. >> we didn't have that type of movement. we still may. but i think in the end, i think especially the treasury markets focused on the bigger picture of all the issues that we need to address on reform and i think the equity markets definitely are fueled by some of those fed programs even though you know i'm not a big fan of them. >> you know what? it's interesting that you mention that. that is the expectation that we could see a move like we saw that day with t.a.r.p. when t
kelway in for bret baier. four days until we head to the fiscal cliff. now it looks like childhood i go, you go games with neither side showing a willing nose go first. mike emanuel on where he head now. >> reporter: pessimistic tone for heading for the fiscal cliff in days. president obama and senators cut the christmas vacation short. the leader is happy to review what the president has in mind but to date they have not put forward a plan. late today, mcconnell expressed frustration. >> this is a conversation we should have had months ago. republicans aren't about to write a blank check or anything that senate democrats put forward just because we find ourselves at the essential. >> asked if he was going over the cliff, biden joked cliff? what cliff? this has been operated with a dictatorship of the speaker. not allowing the vast majority of the representatives to get what they want. they want them to return in case a deal is in the final hours. today, the u.s. is heading over the cliff. >> what goes away next week is the bush tax cut that they loathed since they went in place a secon decade ago. d
the chances of going over the fiscal cliff. this is not a plan. this is a ploy. >> i would like to inquire of my friend how many speakers she has remaining. it looks like a couple. i will reserve the balance of my time. >> i would be happy to tell you. four. >> the gem and reserves. >> thank you. three minutes right now. the gentleman from massachusetts. >> recognize for three minutes. >> thank you for the time. just when i thought the process could not get worse, last night, the republicans reached a new low. we were originally told we were meeting on the plan the tax bill, which continues the prow republican tradition of protecting tax cuts for the wealthy at the expense of middle class families and poor people. then we were told there would be a new bill that was introduced in the middle of the hearing. i am not sure what to call this one. plan b 2.0. it cuts $36 billion from the program, taking food off the tables of struggling american spirit millions of households would see a cut in their benefits. millions of families would have less food tomorrow than they do today. hundreds of tho
on the fiscal cliff so we've got chris wallace because he's watching everything coming out of washington and we'll keep you up-to-date on the changes. >> dave: right, 'cause the senate should convene at one o'clock and the house is get to convene. we'll get some leaking details of some sort of plan. >> juliet: and celebrity meltdowns, the top ones. did clayton make the list? should this one make the list? >> days left and maybe i can meltdown. >> dave: join us on the after the show show. >> they're still scrambling and we're all still waiting. wh but would no deal be better for the fiscal economy than a rushed deal. brenda buttner, bulls and bears. gary b smith, tobin smith. jonas max ferris. a no deal better than a bad deal. >> it would create more uncertainty or one of the deals they're talking about, which is raising taxes and now, and they trust us, we'll get to the spending cuts later on, let's not worry about that right now. the last thing we want to see is a weak-need congress and a weak-willed president patting themselves on the back because they have some watered down deal. i think the
of the fiscal cliff. a little hard to take him at his neck? that's my "two cents more". that's it for tonight "willis report." thank you for joining us. don't forget to tape the show. if you can't testify. have a great night moments ago, president obama saying he still has hope. >> i'm optimistic we may still be able to reach an agreement that can pass both houses in time. senators reid and mcconnell are working on such an agreement as we speak. >> and as we speak, rich edson is live in washington with the very latest. >> well, it's up to the senate. staffers and a majority leader harry reid, minority leader mitch mcconnell are trying to negotiate a scaled-down debt deal to avoid some of the fiscal cliff and take other major decisions on taxes and spending to the future. again, in an afternoon white house meeting president obama pitch a debt plan he had outlined a week ago, prevent a tax increase for income of less than to an effective thousand dollars per year and extend long-term unemployment benefits. senate leaders are using that framework to try to craft a proposal to pass both houses of
to negotiate a scaled-down debt deal to avoid some of the fiscal cliff and take other major decisions on taxes and spending to the future. again, in an afternoon white house meeting president obama pitch a debt plan he had outlined a week ago, prevent a tax increase for income of less than to an effective thousand dollars per year and extend long-term unemployment benefits. senate leaders are using that framework to try to craft a proposal to pass both houses of congress. aides say it would likely increase the threshold for tax increases, reversing massive pay cut from medicare doctors, and elections of millions of americans to avoid paying the alternative minimum tax. an increase in the debt ceiling is not part of the discussion. that is significant development for house republicans who won any increase in the borrowing limit it accompanied by an equal amount in spending cuts taking the debt ceiling of the table making it much easier for the scaled-down version to be negotiated. from here senate leaders will try to secure an agreement by sunday morning. if so, democrats and republicans will t
in the fiscal cliff talks. president obama is holding a summit at the white house today with congressional leaders and members of the house have to be back to work by 6:30 sunday night leaving them with just over 4 hours to come to a conclusion. steep cuts and tax hikes impacting from everything from your paycheck to the defense budget could take effect. >>> norman schwarzkopf has died. the retired general died from complications of pneumonia. he was best nope for leading international forces in iraq in 19916789 he was 78. >>> former president george h. w. bush remains in intensive care at a texas hospital this morning. his chief of staff says bush is getting excellent medical care but expects nobody the hospital for a while. he is battling bronchitis and other complications from it. the 88-year-old was admitted to the hospital more than a month ago. >>> three people were killed when a tractor-trailer that was stopped in traffic was rear ended by a pickup. all of the victims were in the pickup. this happened about 7:00 last night and traffic was still moving slowly in the area late last ni
with negotiations going on this weekend to try and keep going off the fiscal cliff. the deadline is now just three days away. president obama is modestly optimistic. our chief white house correspondent jessica yellin has more on what needs to happen in order to make a deal. >> reporter: alison, christi, hi. the good news is things could have been worse. it doesn't seem to those of us watching from the sidelines as though time is running out, but congress does some of its best or at least its speediest work when the nation's back is against the wall. after a rare oval office meeting with top congressional leaders, the president said he's modestly optimistic a deal can come together. emphasis on "modestly." >> the american people are watching what we do here. obviously, their patience is already thin. this is deja vu all over again. >> reporter: both sides left an agreement, at least over their next step. >> we'll be, would go hard to try to see if we can get there in the next 24 hours. >> whatever we come up with is going to be imperfect. some people aren't going to like it. some will like it less,
that he thinks this will fiscal cliff matter comes down as one white house meeting two hours from now. another top senate republican said a short time ago that he was calling on president obama to lead. >> the president is not a senator anymore. he's a president. just as president reagan worked to deal with tip o'neill and bill clinton and president eisenhower, we need leadership on not just taxing rich people, but we contact them and it wouldn't help the medicare fiscal cliff. greg: others are skeptical, noting that high-profile meetings are for show often times and all about tactics. we expect the president will try a stopgap measure extending middle-class tax rates, extending unemployment benefits for some 2 million americans, do some small spending cuts now, but not entitlement reform. an ally of the white house and the house of representatives offered this. >> this is not for show. it is a last-ditch effort by the president to bring the congressional leaders together to try and get at least a small package. a small deal together before the new year. in order to avoid some of the
-called fiscal cliff with stephen dinan and then we get more comments. first president obama nominating senator john kerry of massachusetts to be the next secretary of state of the united states. and in his announcement the president spoke about john kerry's background in foreign affairs and what makes senator kerry a good nominee to be the next secretary of state. >> john's entire life has prepared him for this role. the son of a foreign service officer. he has a deep respect for the men and women of the state department. the role they play in advancing our interests and values and the risks they take and make in sacrificing their families. and especially our military power. and he knows from personal experience that when we send our troops into harm's way, we must give them a strategy, a clear mission and the resources they need to get the job done. in an extraordinarily distinguished senate career and as chairman of the foreign relations committee, john has played a major role in every foreign policy debate in years. he understands we have to harness all elements of american power and ensure
his annual vacation in hawaii to deal with the fiscal cliff. no sight of congressional leaders. they're not in town. investors getting a little bit nervous. will congress get it together in time? no talks that we know of are imminent. it was by at least one measure, the weakest holiday retail sales growth since the financial crisis back in 2008, but could a post-christmas holiday sales bounce be around the corner? >>> and what a year it has been for tech. gadgets and gizmos. apple, facebook, microsoft all have big news. will 2013 be a lucky year for the sector? which tech titans might lead the new trends? simon hobbs is in at the new york stock exchange. >> good afternoon. when president obama arrives back in d.c., can he prevent america falling over the fiscal cliff? house republicans haven't yet called their members back to washington. our chief political correspondent, john harwood, is with us. john, this feels very much like it might be the calm before the storm in more way than one. >> it could be if we go over the cliff and the storm would be generated by the markets and the lo
faulkner. with just days to go until the fiscal cliff deadline president obama and top congressional leaders are set for a crucial meeting. expectations are low for a deal when house and senate leaders head to the white house this afternoon to meet there with president obama. lawmakers are increasingly looking at the period following the december 31st deadline we're told to come up with a fix to avoid massive tax hikes and spending cuts, affect lives of nearly every american many economists say could plunge the economy into another recession. chief white house correspondent ed henry live with the latest. so in this meeting, ed, is there any hope they will accomplish anything? >> reporter: well it is pretty low expectations, jon. what we're expecting when you talk to top officials of both parties the president will offer a scaled back plan, something he laid out lines friday before christmas here in the white house briefing room before he went to hawaii. where he said look, we have to scale back expectations. basically just extend middle class tax cuts. don't worry about the rates for
for you. >>> the u.s. is set to go over the fiscal cliff in five days. that means taxes will go up for nearly every american. dramatic spending cuts will kick in. president obama and congress will be back from vacation tomorrow. but will anything get done? >>> plus, wild winter weather sweeping through the country. we'll bring you the latest details on which part of the u.s. could be hit next. cnbc's "worldwide exchange" starts now. >>> and welcome to a special edition of reside worldwide. ross andcle reoff today for boxes day in -- kelly are off today for boxing day. for now, you is us. >> we'll start with a brief check on the markets. energy and metals are trading higher now, wtis up about 55 cents. brent crude up 65 cents. also want to check in on the gold price, as well. gold right now down about slightly under the flat line there, 1,-658. well below the 1,700 mark. the cme globex has been closed for christmas. it's going to reopen at 6:00 a.m. eastern time. that goes for treasuries and the foreign exchange market, as well. >> as for action in the overseas markets, the u.k. is
that in a few minutes. but first, with less than two days to go until we hit the so- called fiscal cliff, president obama's sum -- president obama summoned the house and summit leaders from both parties for a meeting on friday. if they can't reach a deal, taxes go up on all of us. plus, don't forget the impact on your 401k. audrey barns joins us with the latest. >> reporter: everyone involved in a meeting between republican and democratic leaders described it as productive, yet it didn't produce an agreement and there are two days left to get it done to avoid automatic tax hikes and across-the-board spending cuts. lawmakers involved in the white house summit vowed to keep chipping away at the sticking points to reach a deal. while senate minority leader mitch mcconnell struck an optimistic tone, senate majority leader harry reid sounded cautious, warning americans whatever they come up with by sunday won't be perfect. after the meeting, president obama made it clear failure is not an option. >> if we don't see an agreement between the two leaders and the senate, i expect a beam to -- bil
. >> lawmakers return to washington. we teeter on the edge of the fiscal cliff. what going over sit going to koflt you. >>> we have late word from washington on whether heroes of the first gulf war, commander of the international coalition that drove iraqi forces out of kuwait under the first president bush has died. he was 78 years old. he died in tampa, florida where he retired after serving as commander in chief of the u.s. central kmanld. he was a decorated combat soldier in vietnam. and u.s. officials confirmed the death but did not say how he died. >> people across the mid west are digging out from a giant winter storm that forecasters are warning there are more storms on the way. most occurred on roadways from nebraska to ohio. the storm dumped record snowfall in parts of the mid west, causing record cold throughout the south. travelers advised to expect delays returning home from the holidays. nearly 3,000 flights have been cancelled and 600 cancelled just today n new york one flight skidded off the runway. im 20s far below normal making recovery efforts difficult for victims of t
of the fiscal cliff. if we do go over the cliff, the i.r.s. has warned most taxpayers may not be able to file their returns until late march. that would mean long delays for many tax refunds. and economists warn the economic effects will be felt quickly if $600 billion in automatic tax increases and spending cuts begin to take effect next year. at this rate, it looks like lawmakers will celebrate new year's eve at work-- if not resolving the fiscal cliff, at least trying to avoid the blame. darren gersh, nbr, washington. >> susie: going over the fiscal cliff will not only have an impact on the national level, it will also hit states and eventually cities. if lawmakers fail to reach a deal before january 1, the cliff's across the board spending cuts and tax increases will impact how much money states get from the federal government. ruben ramirez reports from washington. >> reporter: we all know the numbers. failing to reach a deal by january 1 will result in $109 billion in automatic cuts to federal spending. and while that's a big number, what matters most to states and municipalities is the
to the fiscal cliff deadline, but with those talks on hold, so is the santa claus rally on wall street. and they're a rare breed in corporate america. we look at why so few c.e.o.'s are women. that and more, tonight on nbr. >> susie: not a very merry day of trading on wall street today. it was a holiday shortened session, and the investors and traders working on this half- day were playing it safe, especially with the fiscal cliff talks on holiday break as well. when the closing bell rang at 1:00 eastern time, the dow was down 51 points, the nasdaq lost eight, and the s&p was off 3 points. so while wall street worked half a day, washington was on vacation. lawmakers are increasingly pessimistic about a big agreement-- or any agreement-- being reached before the year ends. darren gersh has the latest. >> reporter: 'twas the night before christmas, and all through the house, nothing much was going on. it was the same story in the senate. washington's cliff talks still remain deadlocked. congress will return on thursday, and it's still possible a few days of holiday cheer and constituent outrage ma
closer and closer to the end of the year with no fiscal cliff deal in sight. and as a result, consumer sentiment is falling off a cliff, just like the fiscal cliff we're going to fall off so we've got a problem on our hands and couldn't happen at a worse time and today, super saturday, the second busiest day of the year. >> brenda: well, a lot of retailers are saving the big discounts until right at christmas and after. if consumers know that, maybe they're waiting, too? >> that's right. a lot of us are procrastinators and haven't started our shopping and a ways to go. you retail holiday season ends on january 31st, not december 31st or december 25th. retailers close their year end books at the end of january and so there's still time, we're going to get a deal on the fiscal cliff, i'm sure of it and there's time for retailers to have great sales for for consumers to go out there and buy stuff and we could have a boom in january. >> brenda: the optimistic, but procrastinating susan and maybe why you haven't received your gift yet. do you buy her math there? >> susan sounds like preside
the can down the road, jeff, we'll do some small deal and create another fiscal cliff to deal with this fiscal cliff. >> just let the people's housework its will. instead of handing over the keys to the most extreme elements in the house republican caucus. >> a lot of people donnell realize he is blocking a vote in the house. >> i think in the end we'll get a deal. the question is the timing. >> i am hopeful there will be a deal that avoids the worst parts of the fiscal cliff. >> i want to bring you in and say good morning to sander levin. sir, it's good to have you with me. what is your expectations or thoughts about hear that the president and vice president joe biden are calling the four congressional leaders behind closed closed doors today. >> i am hopeful. i wouldn't say i'm optimistic, but i think confidence has gone down. i think the key is whether the speaker will be the speaker of the entire house and let the matters come before us where there could be a majority of democrats and perhaps a majority of republicans, but let es speak our will and act on our will. that's
until the nation could careen over the so called fiscal cliff, we do the math to tell you how it could affect your bottom line. >>> from the global resources of abc news, with terry moran, cynthia mcfadden, and bill weir in new york city, this is "nightline," december 28th, 2012. >>> good evening, i'm terry moran. well, with all of the expensive airport frenzy at the holidays, your travel dollar might not feel like it goes as far as it used to, but tonight you're going to meet some everyday travelers who found ways to fly literally around the world in first class luxury for next to nothing. that sounds too good to be true? maybe it's because you've never seen the extreme measures these folks are willing to rack up frequent flier miles. here's an encore presentation. >> reporter: this is where rick gets to go practically for free whenever he goes flying. to the front of the lie at the check-in counter. to the first class lounge. to seats like these at the front of the airplane, first class and business class. and the places he and his wife have gone together, such as -- >> we've gone fr
to fly back to washington in the next few urs to tr to scrape out a fiscal cliff deal but hope is fading fast. if that weren't bad enough, the treasury now says the u.s. will hit the debt ceiling on new year's eve. will this be a game-changer for reaching a deal? >>> plus as if the fiscal cliff wasn't bad enough, now critical ports across the u.s. could be brought to a standstill starting this weekend. we'll explain how a looming union worker strike could sink businesses across the united states. >>> the major sports leagues do a touchdown dance after a federal judge's ruling. their lawsuit to spike sports gambling in new jersey get as crucial green light but new jersey isn't taking it sitting down. details how that state is fighting back and preparing to give vegas a run for its money. even when they say it's not, it's always about money adam: thank you for joining us. we want to look first at the day's market headlines. stocks slid for the 30 straight session. mediocre holiday seas and deadlock over fiscal cliff gave investors little to get excited about. the dow fell 24 points. the so
. this is a gimmick, the flying back from hawaii to do this. nothing going over the fiscal cliff. let the tax cut expire. come back in, offer the tax cuts for people under 250. call them obama cuts and get it going. if you are in congress. you make $175,000 a year. you get vacation days off. they go back and smoke cigars, eat steak, drink wine and laugh. >> andrea: is there something wrong with eating and drinking? if with pay them to do it. >> eric: they want to hit the buffet line. >> andrea: do it on their own time. not when the country is in a financial crisis. i think obama gets a superhero cape after this. >> andrea: people say republican goes down either way on this. but the house and the senate, this last election by blaming republicans. does he think he will get blamed for this? no. he figures i can do whatever i want. leave the republicans out for dead. >> eric: he is winning the messaging game. that is clear. >> andrea: i say that with confidence. he was able to say look, i was willing to meet them halfway. more than 50%. they don't want to work with us together. he is coming off stron
one more attempt to work out a deal to overt the so-called fiscal cliff. in unison, his pals in the news media repeated this white house talking point. >> president obama cutting short his vacation in hawaii, heading back now to washington. that will happen tonight to work on the fiscal cliff deal. >> the looming fiscal cliff is forcing president obama to cut short his christmas vacation. >> president obama is cutting short his christmas vacation. he is leaving hawaii tonight so that he can be back in washington when congress reconvenes tomorrow. >> laura: so we should believe that by leaving his island enclave that the president was making some big sacrifice for the country? i'm thinking washington, crossing the delaware on a bitter christmas night 1776 before going on to defeat the british in two major battles, that's sacrifice. i, for one, never understood how in good conscious any of these politicians would think about leaving town with so much riding on this cliff hanger? shouldn't they get their work done before they leave town for a break? that's what's expected for mo
the fiscal cliff - but there could also be a 'dairy cliff'. sevening next year, you dollars for a gallon of milk. a stalled farm bill means certain protections for farmers are expiring. a dairy subsidy ends january first. if congress doesn't act before then, the u-s would revert to a 63-year-old dairy policy. it would force the government to buy milk at inflated prices, driving up the cost for everyone. return to index of stories... >> christmas might be a good time to see a new movie. elizabeth corridan has a preview of this week's new releases. >> quentin tarantino's leaslatest project takes people to the deep south with jimmie foxx on a dangerous mission with leonardo to cabriole. this also stars several jackson, and it is rated r. >> les miserables is set in paris with anne hathaway and hugh jackman ...and 21st century kids are left in charge with bette midler and billy crystal. it's the bay area's favorite way to ring in the new year. we'll be bringing you the best parties and fireworks on 'new year's live.' i'll be hosting along with gary radnich. kron 4's - new year's live. start
with the fiscal cliff looming large. >> the fiscal cliff gets closer. congress now has six days left to make a deal. >> aloha, hawaii. >> to my republican colleagues, the ronald reagan model is if you get 80% of what you want, that's a pretty good day. >> they were this close. they were this close to a solution. >> he's going to get tax rate hikes. >> are we going over the cliff? >> i believe we are. >> be republican and be conservative and pass a bill that cuts tax. >> boehner has no control over his extreme right wing faction. >> should anybody's taxes be raised at this point? answer yes or no. >> no. no. ♪ >> we begin as president obama and the senate head back to washington set for one last effort to avert the first fiscal cliff. aloha means good-bye for the president as he packs bound for the white house tonight. the president cutting short his vacation leaving michelle and the girls behind as he gets back to work to try to prevent tax increases and spending cuts due to begin next week. there's just one problem. it appears there would be no house republicans to help hammer out a deal.
to keep the country from going over the so-called fiscal cliff. president obama will meet with congressional leaders this afternoon with just four days left to reach an agreement. with time running out, it appears a deal at this point would likely include an extension of tax cuts for the middle class and a cancellation of spending cuts. an aide to senate minority leader mitch mcconnell says the republican senator is eager, quote-unquote, to hear from the president. >>> house lawmakers are heading back to washington ahead of a deal. john boehner called the house back into session for a rare sunday evening session. boehner says it's up to the senate to act. he says the house has done its part to -- it would extend existing tax cuts for all americans. >>> federal workers are told to take steps to prepare for possible furloughs if spending cuts that would be part of the fiscal cliff take effect. the office of personnel management issued new guidelines which state that employees will be given at least 60 days' notice before any furloughs of more than 22 days. they'll receive 30
people how much more they would pay in taxes after we go offer the fiscal cliff and they were like wow, i had no idea. where were you november 6 when you a chance to vote against doing that? i don't think the average american understands. >> they were listening to pimp with a limp and david letterman, a nice guy who knows nothing about economics. social security, defense, medicare, medicaid, the health programs and the cost of interest on our debt are the five -- four main drivers of our debt. five main drivers of our debt. that's not going to change. 50% of our budget. a little bit more when you leave defense in there. we have to cut spending. why won't the president say look, we have to cut spending. it's like social security. we paid in all these years. people paid madoff. >> you're 100% right. revenues go up every year but spending goes up more. craig smith, thank you very much. >>> it's been almost a full hour, almost a full hour since the white house meeting started. ed henry at the white house on what we can glean from there. for an hour. we're 55 minutes into the meeting. is that
own budget battle right now, the fiscal cliff. and the fact that the president wanted to tax the wealthy at a higher rate than what the middle class would get. there is something we might be able to learn from what's going on in france right now? >> i think the thing to learn at the moment that they've been trying in france is probably second nature to an american. what they're trying to learn in france is that it's not bad news to be an entrepreneur. if you have this entrepreneur spirit, you can do it. but you do have to put things in slowly and to reach out and i think that's where the president of france has lost a lot of ground. he didn't get a lot of people on his side, even though he said that this tax hike would only be for a very small proportion of the population and would only be for two years. but because it was seen to have been rushed through, not properly spelled out, it was difficult. >> kelly: one final question, if i may, what kind of deficit reduction would this tax be able to provide for the people of france, if you incur 75% tax because you just happen to
. fiscal cliff talks at the white house end with nal, but president obama says he's still hopeful and says "we've got to get this done." gold prices pulled back today on worries about the fiscal cliff, will the metal shine in 2013? then cuba, tonight's "market monitor" sees big opportunity on the tiny island when the embargo's lifted. thomas herzfeld, of thomas herzfled advisors joins us. that and more tonight on "n.b.r."! president obama says he's "modestly optimistic" a fiscal deal can be reached in time. he said he's instructed senator harry reid and senator mitch mcconnell to come up with a plan that can pass in congress. his brief comments a short while ago came after a white house meeting today with congressional leaders that ended with no deal. ahead of that, investors lost hope lawmakers can come together in the time remaining. in the last few minutes of trading, stocks sold off. the dow tumbled 158 points, the nasdaq lost 25, and the s&p fell over 15 points. here's darren gersh with more on the critical work that has to get done in washington this weekend. >> port: thpresident dec
on the fiscal cliff. let not your heart be troubled. that is all the time we have left but greta is standing by >> the o'reilly factor is on. tonight: >> somewhat like taking your child hostage and saying to somebody else i'm going to shoot my child if you don't do what i want done. >> as the country moves closer to going over the fiscal cliff, the partisan rhetoric reaches new lows. can washington hammer out a deal before it's too late. the american people should be outraged at this because it is disgraceful. it is purposely misleading. >> shocking developments at the state department. the four officials supposedly out of their jobs after the benghazi terror attack reportedly still on the government payroll. how can that be? [chanting] protect the constitution. >> the liberal "new york times" says last month's election significantly weakened the tea party. is that true? we will have a debate. chanting] >> u.s.a. >> caution, you where to enter the no spin zone. the factor begins right now. >> i'm greg gutfeld in for bill o'reilly. thanks for watching us. our top story tonight, the last ditch
since november, but it's unclear if it brought the country closer to avoiding the fiscal cliff. >> when the president calls congressional leaders to the white house, it's all political theatre or they have a deal. not that it's all political theatre. >> this is not for show but a last-ditch effort by the president to bring congressional leader together to try to get a small package at least, a small deal together before the new year. >> reporter: the president called the meeting as lawmakers pointed fingers in this high- stakes game of chicken. >> the republicans who are holding hostage the middle class in america society wealthy don't have to pay their fair share. >> we need two words: presidential leadership on not just taxing rich people. we could do that and it would not help the medicare fiscal cliff. >> reporter: with time running out, hopes have diminished with talk of a smaller deal extending bush tax rates for the middle school and unemployment benefits. it puts off major spending cuts and reforms to entitlements like healthcare. >> we're going to end up with a small, kick-the-
to entertainment, it's education. call me. fiscal cliff talks. let's be optimistic. use the word stall. the president gave us a little hope tonight that an agreement to avert a middle class tax hike could still occur next week. saw the breakdown play hideously in the session today. dow shrimping 120 points. nasdaq diving .96%. it makes sense the market got a whacking when you consider that the speaker of the house didn't have enough votes in his own party to push through any tax increases and the president says there's got to be some. that's even for people making more than a million bucks. it was for show. the president would have vetoed the bill. he insisted again that he will not -- tonight, he's not about to let the rich get away with it, whatever that means. we have been worried that since the election the politicians won't rise above partisanship and come to an agreement. we at cnbc have taken an historic position. get a deal done for the good of the country. what faces us is worrisome. nation could see 2 million jobs loss. slashing of unemployment benefits when you are laying pe
sector. and hoping to catch more of the housing uprise. but with the fiscal cliff looming, i was wondering if you would advise more defenseless strategy like consumer staples or something going into the new year. >> what i was thinking i told a friend of mine today conagra reported an amazing number. that's the kind of thing i would think about. nice yield. good growth. i think that's the best idea. why don't we go to brooks in ohio. brooks was here. brooks? >> caller: my question is about abbott, the split, how's it going down and which side are you on? >> good news today. the split will be included in the s&p which is why it was up. abbott is going higher. that's why my travel trust owns it. things seem dysfunctional in washington but even now it's better to be a buyer than a seller if you know where to look. "mad money" will be right back. >> announcer: coming up, the world is overflowing with information and tibco helps make sense of ones and zeros. while the market is up nice for the year, its stock is now down big. does today's turn to the green mean it's time to logon
to ask them about the fiscal cliff. whether or not you have an opinion, whether you have some knowledge or not -- what would you like to say about the fiscal cliff? >> you know, i think the fiscal cliff is a great nickname. but i think it is sort of greedy instance of an emergency. like if something doesn't happen by january 1, the entire economy will go into the next great profession. that's not really what's going to happen. there is some great degree of urgency. this is sort of a man-made crisis, i think. i don't think that we have this crushing budget issue that has to be dealt with at this precise moment, or the world will end. i think of seville at a very anemic recovery. there are a lot of people really struggling out there across the country. but our priority should be strengthening our safety net during times of economic duress. now is not the time, in my opinion, to be contemplating significant cuts in things that a lot of struggling working class people who have lost grip of the middle class, spending cuts that are talked about, it could really have a negative impact on peopl
for his plan the proposal on the fiscal cliff has embarrassed the speaker, but the speaker's failure means a solution to the fiscal cliff is, if they're going to be one, now resting squarely upon president obama. arsine to be vacationing president alone cannot propose gislation that wins majority support in both the house and senate, and the decision to go over the fiscal cliff now depends on his ability to successfully negotiate and to forge a compromise that appeals to both republicans and the far left in mr. obama's party. the president metwith senate majority leader harry reid this afternoon and talked with speaker boehner to begin anew that effort to reach compromise. >> averting this middle-class tax hike is not a democratic responsibility or republican responsibility. with their foes the american people have determined that governing is a shared responsibility between both parties in this congress laws can only pass with support from democrats and republicans, and that means nobody gets 100 percent of what they want. lou: there are only ten days remaining tothe fiscal cliff. preside
and congressional leaders try to pull off a fiscal cliff hail mary. their last-ditch meeting at the white house desperately tries to land a deal but the report he hadly not putting any new offer on the table. we have the very latest for you. >>> not even the fiscal cliff can slow down the u.s. oil boom the production surge sets up huge windfalls for businesses outside the oil industry in 2013. who stand to reap the biggest gains? we'll drill down details so you can get in on this game. >>> iran launches war games in the strait of hormuz flexing its military muscle in the heart of the critical seaway for global oil supplies. is iran just sabre-rattling or gearing up for something much bigger? even when they say it's not, it is always about money. adam: and a good evening to you. melissa francis will be back after the first of the year but right now let's look at today's market headlines of the investors were largely gripped by unfolding events in washington regarding the fiscal cliff. there was little optimism on wall street. stocks fell for their fifth straight session. the dow, the dow fell be
media chairman joins us for a look at the fiscal cliff. at 9:15, a discussion of background checks. host: the house and senate are back in session today, but the fiscal cliff negotiations are not on the agenda. during this first segment, we want to hear from business owners only. about your views on the fiscal cliff and how it may affect you in 2013. you can see the numbers on the divided by zones -- time zones. you can also contact us via social media on twitter or facebook or by e-mail. before we get an update on the fiscal cliff, two articles to show you. this is from the houston chronicle. that's from the houston chronicle. if there are updates, we will get those throughout this morning's program. one other article and we want to show you -- according to one article, the nominee has flown back from hawaii with the president on air force one. most of the papers are filled with articles about the fiscal cliff issue. joining us now is merideth shiner of cq roll call. ms. shiner. guest: ms. shiner seem so formal. we're having a recession in between christmas and new year's. that ha
employment, your paycheck, all of it is at stake if the country goes over the fiscal cliff. it's a cliff that the lawmakers built. they've set the tuesday deadline, they've known it was coming for more it and a year. but until now they've done little to agree on tax increases on tax cuts until that time. people in this building have none what's coming on tuesday yet they're only returning to get back to work just now. senate came back yesterday. house members, well, they won't be back until sunday. this afternoon house on senate leaders met with president obama at the white house. they talked for about an hour. afterwards president obama said he was modestly optimistic. bypassing house speaker john boehner, who has had trouble getting his fellow republicans to agree to anything, the president called on senate majority on minority leads are harry reid on mitch mcconnell to work out a deal on then present it to the house. he also laid out a scaled down mini deal if they are can't manage it. >> if we don't see an agreement between the two leaders in the senate, i expect a bill to go on the
.s. is heading for the so-called fiscal cliff. he compared it to the ball dropping on new year's eve dropping on times square more ominously. more from the nation's capitol. in terms of industry groups and what is not working we start with financials. they're the biggest drag. money center banks like bank of america down 1 1/4%. goldman down 1%. morgan stanley down .8 of a percent. all those stocks are under pressure. tech stocks notably weak. apple inching to the round 500 dollar level. down to 510. it was north of 700 when iphone 5 came out early september. so the bear market continues to apple. as you can see, google also down, down about five bucks on the day. ibm down slightly a .10 or two. hewlett-packard off today, down one 3/4%. coming up later we have a contrarian investors sees big opportunity for hp in 2013. he nailed down the move in bank of america this year. he said it was the stock to buy. he was right. stick around for what he has to say about hewlett-packard. interesting stuff. what an interesting day. let's look to the floor show. traders at new york stock exchange, the cme
unfortunately. stuart: and as if falling off the fiscal cliff isn't enough to push us off another recession, it could of course. tomorrow at midnight a longshoremen's strike could shut down ports at east coast and the gulf. and the strike could disrupt about, we figure, 2 million tons of imported cargo per day and of course, it would cost the economy billions. it could have major implications on nearly all levels of the u.s. economy, could push america into recession, that's a big could. and president obama, lawmakers meet 3 p.m. on the fiscal cliff at the white house today. markets are going to be watching that real close, but of course, the markets close about an hour after the meeting starts. so, that meeting probably won't have much impact on the markets themselves unless there are leaks about what might happen. until then, any developments out of d.c. i'v i have are going to drive this market. we're calling it sound bite trading. we're covering it. the opening bell is next. want to know what i did in the last five hours? i played a round of golf. then i read a book while teaching mysel
the fiscal cliff. charlie's at the live desk right now this morning with more on the battle ahead for both sides of the debate. charlie the 11th hour. >> the future, the immediate future of our taxes hang in the balance. the president and house republicans are now set to square off once more to cut a deal. with just five days remaining before the tax hikes and departmental cuts take effect. before christmas house republicans failed to pass the alternate plan instead placing the responsibility on president obama and senate democrats' shoulder. according to the "washington post" gop leaders vowed to go into session to vote on anything the democratic controlled senate approved. however speaker john boehner demanded the senate first take a look at the bill the house moved through a month ago that preserved the expiring tax cuts for the wealthy as well as the middle class. that's not likely given the president's position on raising taxes for those making more than $250,000 a year. >> i want us to not go over the cliff because i think if we do it hurts our economy and it hurts our country. >> mi
b back fire in the final hours before america goes over the fiscal cliff. they are trying to craft a plan c. america's news headquarters live from the nowy nation's capitol starts now. >> hello everyone. we are down to the wire and an impatient president obama is leaning on top lawmakers to cut a deal. senate leaders are rushing to hammer out a last ditch compromise. mike emmanuel is live with the latest on the negotiations. >> hi, molly it is it eye critical window. we are not expecting an announcement today, but they are trying to carve out a deal capable of winning bipartisan support. president obama said the u.s. can't afford a self inflicted wound to our economy. >> fortunate lie congress can prevent it from happening if they act right now. i had a good and constructive discussion with senate and house leadership about preventing the tax hike on the middle class and we should be able to reach an agreement to pass both house necessary time. >> senate leaders can't strike a deal. it would be a plan c. keeping tax cuts for those making $250,000 or less . extending unemployment be
doosey, thank you very much. >> the fiscal cliff is looming and now the president has gone home for the holidays and left for hawaii without a deal in place. with nine days left now, is it too late? remember the house budget committee marcia blackburn joins us now. congressman thank you for joining us. >> sure. >> before we get underway, i would love to play for you. play for you right now the president's words just before he departed on his hawaii vacation. here he is. >> so as we leave town for a few days to be with our families for the holidays, i hope it gives everybody some perspective. everybody can cool off. everybody can drink some eggnog and have some christmas cookies and sing some christmas carols and enjoy the company of loved ones. >> and then, congressman, just after he said that senator jeff sessions of alabama said this, and i shall quote, president obama today gave another speech about the fiscal cliff, no plan, nothing that can be scored or analyzed, just another speech. if president obama wishes to avoid the fiscal cliff then he with all of the power and influ
>> time is running out to prevent going over the fiscal cliff. congress needs to reach an agreement. the deadline is days away. a celebration of family and culture. baltimore residents are coming together to observe the holiday. >> the rest of the weekend looks good. we will check the forecast in a few minutes. >> you are watching wbal-tv 11. this is 11 news at 6:00. >> in just 48 hours, taxes could go up substantially. president obama and house speaker john banner could not reach a compromise. it is now up to the leaders of the senate to try. they are working on a plan today. they're hoping to bring it to lawmakers to mark. >> as senate leaders work behind closed doors, president obama and republicans issued it messages on the web. >> we cannot afford itself- inflicted when to the economy. the economy is growing. keeping it that way means the folks you sent to washington have to do their jobs. >> if the nation goes over the fiscal cliff, each side says the other is to blame. correct we can still avoid going over the fiscal cliff if the president and senate step forward and work wit
to the models used in the newtown shootings. >>> with time running out to avoid the fiscal cliff, democrats and republicans have left the capital for home. for the majority of the country, that means we are going over that cliff. president obama is in hawaii for christmas with his family. before he left he urged congress to adopt a stopgap measure to prevent taxes from rising on people who make less than 250,000 a year. he also asked for a plan to keep providing benefits to unemployed workers. house speaker john boehner is home in cincinnati. he failed to get members of his own party to support his plan b proposal for ending the crisis. speaker boehner says the stalemate and the failure of plan b is the democrats' fault. >> the president -- what the. has offered so far simply won't do anything to solve our spending problem and begin to address our nation's crippling debt. instead he wants more spending and more tax hikes that will hurt our economy. and he refuses to challenges the members of his party to deal honesty with the entitlement reform and the big issues facing our nation. that's w
the country to go off the fiscal cliff to gain political points are lawmakers playing chicken with your taxes? >>> and a winter storm may be headed your way. who may be getting a white christmas and what it means for your holiday travels. we'll have all of that, coming up. good morning, everybody. welcome to early start. i'm alina cho in new york. >> and i'm dana bash in washington. john and zoraida are off. >> a developing story in afghanistan. an adviser to the afghan police has been shot and killed by a woman wearing an afghan police uniform. the latest in the series of green on blue insider attacks and our pentagon correspondent barbara starr joins us live with details on that. good morning. how unusual is this? >> well, alana, sadly this is a story we've report sod often during the year, haven't we? the details on this attack are different in one respect. as far as we know this is a case where a woman, an afghan woman in a police uniform conducted this shooting and killing. a contractor in cab uhl police headquarters. the nato alliance has already announced the incident but not said the
to turn to the desperate, last-ditch effort to try to keep the country from falling off the fiscal cliff, sending everybody's taxes up and possibly sending the country into another recession. it's down to the wire with just three days left. and abc's lisa stark has the latest on the last-minute wheeling and dealing being done in washington. good morning, lisa. >> reporter: good morning, bianna. well, the next 24 hours are critical. the president this morning in his radio address, told lawmakers don't let washington politics get in the way of american progress. so, the last-ditch attempt is on the way to put together a deal. and the ball is in the senate's court. there's nothing like a deadline to force action. the president met with congressional leaders friday for the first time in six weeks. then, proclaimed himself modestly optimistic. but warned -- >> the american people are watching what we do here. obviously, their patience is already thin. >> reporter: with the clock running out, here's the game plan. the democratic and republican leaders in the senate will spend day trying to has
at these people falling one by one through thin ice. >> give me the rope from under the seat. >>> fiscal cliff hanger. >> the hour for immediate action is here. it's now. >> t-minus three days until everyone's taxes go up. the politicians are in a mad scramble this morning. so, what are the odds of a deal to prevent disaster? >>> the price of fashion. are your skinny jeans a health risk? why doctors are warning of nerve damage, abdominal pain, heart burn, even blood clots. >>> is britney spears about to lose her job as a judge on a talent show? why simon cowell reportedly calls her toxic to the show's success. >>> and good morning, everyone. we've got a lot to get to this last week of 2012. can you believe this year is almost over? and of course, we're going to start the show with weather. take a look at snow falling overnight in illinois. the year ending with a one-two punch of nasty weather for much of the country. ginger zee will tell us how it will affect your travel plans. >> nothing makes ginger happier than a big winter storm. we'll talk to her in just a moment. >>> speaking of travel.
leader harry reid says the u.s. is probably going over the fiscal cliff. he's planning a news conference. we don't have the exact time. when it goes, we'll go there. investors getting quite nervous. obviously the dow dropping below 13,000. the first time since early december. fear index is spiking the vick. what going over the cliff will mean for you and your money. we will talk about it this hour. >>> airline stocks flying high sitting at 1 1/2 year highs. will it be smooth skies for the industry next year in 2013. phil lebeau has the report. >>> how about housing? what a story housing has been this year. a milestone. home prices on track for their first year-over-year gain since 2006. is the worst finally over? some say yes, others say no. what does michelle caruso-cabrera say. >> tyler, let's drill down to the numbers you were talking about. only four hours to go until america goes over the fiscal cliff. the dow jones industrial average down 113 points. had been down 148 points. look at that as we come on the air back above 13,000 level, not by much. the nasdaq, the biggest decline. 3
over the fiscal cliff which means taxes go up for everybody who pays taxes but what else does it mean for you -@and for the economy? the chief of staff on george w. bush council of economic advisors, she thinks we're probably going over because the white house will not stop pushing for higher tax rates, she joins us later this hour. shibani: maybe the texas will be higher in 2013, but prices at the pump will be lower. some good news and some bad news. david: but first we will tell you what drove the market in today's data download. all three major indices closing to the red for the third day in a row. nine of 1 10 s&p sectors ended lower led by consumer discretionary and materials posted gains but they were the only ones out of the nine or 10 sectors. falling compared to the previous month up one year earlier. case-shiller index rising 4.3% compared to year ago. manufacturing utility slowing down, the federal reserve bank using five points from nine in november. numbers above zero indicating expanding activities but there is a slowing trend that has to be watched. shibani: let's take
how to deal with the issue. another stalemate in fiscal cliff negotiations. >> our colleagues are risking the fiscal cliff. >> i think we will fall out of the fiscal tree. >> lawmakers return from their holiday recess on thursday and will have their work cut out for them. danielle leigh, wbal-tv 11 news. >> 28 degrees on tv hill. a u.s. senator is charged with driving under the influence the >> george h.w. bush will be spending christmas in the hospital. >> this is a live picture of traffic at baltimore national pike. w=!n did you get chips for the party? nope. cheese plate? cheese plate...nope. i made something better. ♪ you used the oven? boom ♪ [ male announcer ] pillsbury crescents. let the making begin. here's a better idea. pillsbury grands! flaky layers biscuits in just 15 minutes the light delicate layers add a layer of warmth to your next dinner. pillsbury grands biscuits let the making begin. >> president obama was among the other dignitaries that attended a service for the late senator daniel inouye. the veteran was the first japanese american elected to both ho
>> if you are a last-minute shopper, you're not alone. >> one week until the fiscal cliff. lawmakers will return from their holiday recess. >> the ravens come back with a vengeance after three straight losses. >> santa has already begun his trip across the world. [captioning made possible by constellation energy group] captioned by the national captioning institute --www.ncicap.org-- >> you're watching wbal-tv 11. live, local, late-breaking. this is 11 news today at 6:00 a.m. >> good morning. i am sarah caldwell. >> i am jennifer franciotti. happy christmas eve. >> things look good for santa. all his helpers' are trying to finish up their preparations. there could be some slippery conditions out on the roads. a lot of clouds building into the mid-atlantic. the rain is reaching parts of southern virginia. this will turn over to an icy mix. look at the temperatures right now. it will not be pure rain. we will see some sleet around baltimore. it will be chilly today. watch out for the slippery conditions. >> so far pretty light traffic. >> 1 accident along greenspring valley
and safe and be loved. goodnight. fore this fiscal cliff thing happens. melissa francis is next. melissa: merry christmas eve, everyone. north american aerospace commander norad is currently tracking santa's progress. so far he has delivered within 2.3 billion gives. he has a way to go. my little guys are still waiting for their presence. captain, thank you for joining me. is there anything santa should look out for? >> not at all. we are looking very carefully. it looks like it will be smooth sailing for santa tonight. melissa: how is his progress so far? 2.3 billion is a lot of gifts. he has a lot of ground to cover. >> he is only about a third of the way through his journey. he is down in the and arctic area heading towards madagascar. it looks like he will be right over the eastern part of the united states at about 9:00 p.m. tonight. melissa: where has he been so far? >> so far, he has covered all of asia. he started off in the island and moved over to japan, russia, india, and is making his way up the east side of africa. melissa: you do not see any weather problems later tonight i
national cable satellite corp. 2012] >> on capitol hill negotiations on the so-called fiscal cliff continues this weekend as congress is scheduled to return tomorrow. here is what senate majority leader harry reid and minority leader mitch mcconnell had to say yesterday from the senate floor after their meeting with president obama. >> i talked to the republican leader bob this is generally -- about this generally. we had a constructive meeting. i hope something positive will come from that. the republican leader and i and our staffs are working to see what we can come up with. but it should not take a long time to do that. but it would be in everyone's interest if we were in session tomorrow. we have another vote that has been set up >> you were talking about sunday, right? >> yes. we're going to have another caucus a following that, and hopefully by that time we will have made a determination, senator mcconnell and i, and we can do something on the floor in addition to what i talked about. we do need that time to have everybody kind of step back a little bit. if we come up with s
the fiscal cliff, democrats and republicans have left the capitol for their respective homes. for the majority of the country, that means we are essentially going over the cliff. president obama is in hawaii for christmas with his family b. before he left, he urged congress to adopt a stopgap measure to prevent taxes from rising on people who make less than $250,000 a year. he also asked for a plan to keep providing benefits to unemployed workers. house speaker john boehner is home in cincinnati. he failed to get members of his own party to support his plan b proposal to end the crisis. he said the stalemate and failure of plan b rests with the democrats. >> what the president has offered so far simply won't do anything to solve our spending problems and begin to address our nation's crippling debt. instead he wants more spending and more tax hikes that will hurt our economy. and he refuses to challenge the members of his matter to deal honestly with the entitlement reform and the big issues that are facing our nation. that's why we find ourselves here today. >> president oba
fiscal cliff. two republican senators on the sunday talk shows yesterday say they agree with the president's position that both sides should avoid tax hikes on middle-class americans. also, nra executive said the group would not support any new gun laws in this country. good morning this monday, december 24, 2012. we will begin this morning with your thoughts on religion and politics. as a religion influence your political decisions? also send us your tweet if you go to twitter.com -- we will begin with the sunday review section of the "the new york times" yesterday. we want to get your take on this. it does religion influence your politics? with more people saying they are unaffiliated. we want to get your take. here are some comments from facebook this morning. what are your thoughts on this december 24, 2012. it does religion influence your politics? let me show you this from "the new york times" this morning. a new poll out worldwide religion shows up that one out of six follows no religion. that is worldwide. all religions outside the united states as well. the upi
and congressional leaders will meet later today trying to hammer out a deal on the fiscal cliff. we'll ask republican senator bob corker if a deal is likely and tell you how no deal could significantly impact everything from the price of milk to the price of gas. >>> we also look back at the life and legacy of general norman schwarzkopf. and a double agent tells us how facebook was used to infiltrate al qaeda. >>> but we begin this morning with today's "eye opener," your world in 90 seconds. >>> the house and republican have left town. the negotiations between the president and speaker have fallen apart. you can't legislate with yourself. >>> republicans have bent over backward. we wanted an agreement, but we had no takers. >> washington scrambles to avert the fiscal cliff. >>> president obama has asked the congressional leaders to meet at the white house today. >> if they cannot reach a deal, the economists warn that could trigger another recession. >> are they going to avoid a fiscal cliff, eric? [ laughter ] as stormin' norman has died. he commanded the u.s.-led international coalition
the fiscal cliff, president obama and republicans issued dueling messages on the web. >> we cannot afford the self inflicted wound to the economy. the folks you send to washington have to do their jobs. >> reporter: if the nation goes over the fiscal cliff next tuesday each side says the other is to blame. >> we can avoid the fiscal cliff if the president and the democrat-controlled senate step forward and work with republicans to solve this problem and solve it now. >> reporter: all over the country right now, uncertainty is in the air. >> it's not a matter of am i going to pay my light bill but is it going to deplete my savings. >> even if the impact isn't real, the perceived impact could cause a dropoff in sales. >> reporter: gets a deal is up to the top democrat and top republican. >> we are engaged in discussions, the majority leader and myself and the white house in the hopes we can come forward as early as sunday and have a recommendation. >> whatever we come up with will be imperfect. that's where we are. >> reporter: harry reid and mitch mcconnell say they are confident they can
scrambles to avert the fiscal cliff. >> president obama asked congressional leaders to convene at the white house today. >> if the president and lawmakers cannot reach a deal economists warn that could trigger another recession. >> are they going to avoid the fiscal cliff, eric? >> the gulf war general known as stormin' norman has died. gen malnorman shwards cop of dread the coalition that drove saddam hussein's forces out of kuwait. >> the monster storm system finally moved out but some are bracing for another round of snow. >> more than 14,000 longshoremen are planning to strike on sunday the walk-out could affect ports from boston to houston. >>> for the second time this month a man has been pushed to his death in the path of a new york subway train. >> crazy people running the streets. >>> an uninvited guests slithered into a backyard in florida. >> somebody else got the shower on the sideline. >> jamal crawford who i think should be an all-star coming off the bench is dangerous. be still. >> and all that matters. >> hillary clinton plans to go back to
washington without a plan to avoid the fiscal cliff. the president met with harry reid and also spoke with the house speaker. the president said he hoped any deal would include an extension of unemployment insurance and lay the groundwork for a larger deal. this is about seven minutes. >> good afternoon, everybody. for the last few weeks, i have been working with the leaders of both parties on a proposal to get our deficit under control, to avoid tax cuts -- to avoid tax hikes on the middle- class. and to make sure we can spur jobs and economic growth. a balanced proposal that cuts spending, but also ask the wealthiest americans to pay more, a proposal that will strengthen the middle class over the long haul, and our economy over the long haul. in the course of these negotiations, i offered to compromise with republicans in congress. i met them halfway on taxes and more than halfway on spending. today, i am still willing to get a comprehensive package done. i still believe that reducing our deficit is the right thing to do for the long-term health of our economy and the confidence of
in sight to avoid the fiscal cliff. we'll tell you how president obama is pushing forward as the clock ticks. >> first this morning's tech bites. >>> in today's tech bites, amazon.com getting a present from shoppers, good review, survey puts amazon at the top of the list where it has been the past eight years. big jim in americans reading e-books, re-- research finds 16 and older red -- print reading drops from 72% down to 67%. salary of time cook dropped by 99%, his 2012 compensation 4.2 million dollars, far cry from the 378 million last year. steve jobs' famously collected a dollar a year. >> for the first time in its history voting for oscars online some voters are complaining the system is confusing and worried it could be vulnerable to it's time to change the way we clean. it's time to free ourselves from the smell and harshness of bleach. and free ourselves from worrying about the ones we love. new lysol power & free has more cleaning power than bleach. how? the secret is the hydrogen peroxide formula. it attacks tough stains and kills 99.9% of germs. new lysol power & free. powe
from san jose. ktvu. >> we are less than a week from the fiscal cliff. the united states senate convening right now. we want to show you a live if picture. there it is. that's the senate majority leader. the senators are right now meeting to discuss the economic deadline and coming up at 7:15 we will have more on the fiscal cliff negotiations and how we are closing in on another financial barrier, that debt ceiling. >> let's go to tara filling in for sal. there is another accident in napa. >> we have a two car crash on napa road. that person is trapped inside of the car. chp working to get them out as well as police. we have another incident we want to mention. 880 northbound at 92 split. a solo spin out. it's close to traffic so they are running a break. here is a look at maps where 680 southbound, actually we will go to 101 in san francisco. you can see we have traffic flowing nicely in both directions. finally a look at maze. you can see traffic also flowing very well there on the far right hand side of the screen. let's check in with mark. >> good morning to you. we are t
fell for their fourth straight session. that dour outlook on the fiscal cliff from senator harry reid sent stocks tumbling but they came off the session lows following word the house would reconvene this weekend. the dow lost 18 points. >>> jitters over the fiscal cliff sent the fear index or the vix leaping yet again. it hit the highest level since july. the vix is up 30% over the last month. >>> apple's tim cook is getting a 99% cut in compensation this year. cook will take home $4.2 million compared to 378 million bucks in 2011. apple made clear the decline has nothing to do with performance. cook's sky-high 2011 pay package was largely award of one million restricted shares of stock after he took the reins at apple as ceo. that money would come in handy in washington, wouldn't it? that is our top story. the senate convened today for emergency session to deal with the fiscal cliff. the house has announced plans to reconvene on sunday. both senate majority leader harry reid and senate minority leader mitch mcconnell spoke a short time ago and neither sounds hopeful of fiscal cliff d
something about fiscal cliff, and then we'll move on that news, but traders are saying if we get a deal done, we'll see the market take off. we have not seen a santa claus rally this december, unfortunately, and, in fact, the nasdaq lower. stocks lower, by the way. here's the new york stock exchange, three stocks trading down for every one trading up. another thing trading up a the vix index. it's 20.18. the vix has traded below the two decade average, and that's not happened this month. we broke that trend. we have an uptick in the vix now. adam, back to you. adam: the question of the day, are we closing in on the deadline and potential plan to avert the fiscal cliff, about this afternoon's meeting between the leaders, and expectations between a deal are not running as high as they were back in november. remember this? >> i believe we can do this, avert the fiscal cliff that is right in front of us today. >> this is not something we are going to wait until the last day of december to get it done. adam. adam: proof words are cheap. it's the end of diecious, and absolutely nothing was done. w
because, quote, the phone never rang. he complains i've not delivered solutions to the fiscal cliff. he's in error. we all know that in july of this year we passed in the senate the relief that would give -- that it would give to middle class americans. that -- that passed the senate. now, we know the republicans have buried themselves in procedural roadblocks in everything we're trying to do out here and now they are saying, well, we can't do the 250 because it wasn't blue slipped, because it will be blue slipped. mr. president, how does the american people retook the that? there was a bill introduced by the ranking member of the ways and means committee in the house, sandy levin, that called for this legislation. the speaker was going to bring it up to kill it, but he couldn't kill it and then we moved to plan "b," the debacle of all debacles. it's the mother of all debacles. that was brought up in an effort to send us something. he couldn't even pass it among the republicans it was so absurd, he meaning the speaker, so it's very clear now, mr. president, that the speakers's number on
into his son's school. >> gregg: we begin with so-called fiscal cliff, major concerns for the u.s. economy are not keeping lawmakers from heading home for the holidays. but with lawmakers from both parties still at odds over how to avoid that inevitable cliff, tax hikes, spending cuts associated with it, some of them are taking to the sunday talk shows to make their respective cases with just nine days until every american taxpayer feels the pinch. steve centanni, steve is there still any chance some sort of a comprehensive agreement can be reached? >> reporter: it's looking less and less likely. two sides in the did the debate had their say on sunday talk shows. there is a lot of talk and not much action. john boehner called off his public for a plan b, there has been no movement toward any kind of deal and some are saying the president wasn't to avoid that fiscal cliff. >> when i listen to the president, i think the president is eager to go over the cliff for political purposes. he sees a political victory. he gets additional tax revenues and gets to cut the military which democrats have
. earlier today in a pathetic last minute effort to avoid the nation falling off the fiscal cliff president arnold palmer took a mini break from the golf schedule to summon congressional leaders to the white house. a last minute mini deal could be struck before the end of the year that would preserve tax cuts for the middle class and preserve unemployment benefits. the president raced to the microphones and said the following after this meeting. watch. >> i just had a good and constructive discussion here at the wows with senate and house leadership about how to prevent this tax hike on the middle class and i'm optimistic we may still be able to reach an agreement that can pass both houses in time. senators reid and mcconnell are working on such an agreement as we speak. >> sean: here is what you need to remember. number one, the whole fed iasco was totally and completely avoidable. number two, senate democrats have not fulfilled their constitutional duty to pass a budget in over three long years. over 13 hyundais. their obsession has been and continues to be ruthless politics over doing wh
the fiscal cliff? >>> a dangerous winter storm roaring across the eastern half of the u.s. bringing blizzard conditions and travel nightmares. plus, the nra's controversial proposal to put armed volunteers in every school, we'll go in-depth with the man in charge of the national school shield program. i'm joe johns. you're in "the situation room." the u.s. is now just six days away from the so-called fiscal cliff. and a mad scramble is on here in washington to avoid the drastic tax hikes and spending cuts that many fear will plunge the economy back into recession. president obama flies back from hawaii tonight to be ready if the senate comes back with a plan when it returns to work tomorrow. and house leaders are huddling with members on stand-by to return. senior congressional correspondent dana bash is following all of it for us. what are you hearing? >> there was a conference call of course members of the house leadership even, they're back in their districts, but there was a conference call today among those house republican leaders trying to figure out if and when the house should come
to monitor here on the fox news channel america on the brink. the latest on the fiscal cliff. let not your heart be troubled. that is all the time we have left but greta is standing by to go on the record. we'll see you back here monday captioned by closed captioning services, inc. >> greta: this s a fox news alert. 74 hours to go before president obama, the senate and the house shove america off the fiscal cliff. let's go to capitol hill fox news chief congressional correspondent mike emanuel live with the latest. >> we are heading into a critical weekend as a final push is made to keep the u.s. economy from going off the fiscal cliff. after a late afternoon meeting with the top four congressional leaders at the white house, president obama offered this assessment. >>> i'm modestly optimistic -- nobody is going to get 100% of what they want. but let's make sure that middle class families and the american economy and in fact the world economy aren't adversely impacted because people can't do their jobs. >> sources say house speaker are john boehner deferred to senate colleagues and told th
about the fiscal cliff lately. how will it actually affect you? what happens to your taxes if we go off the cliff? according to the tax policy center if you're sing well no children and make $50,000 a year you will see your taxes go up by $1,500 if no deal is reached. married couple with two kids making $100,000 would see their taxes go up a whopping $5,300 per year. taxes will go up the same amount underneath the democratic and republican plans if no deal is reached. just one day after the christmas holiday, president obama is packing his bags, heading back to washington to try to forge a deal on the fiscal cliff, with just six days left to negotiate, a deal to avoid the catastrophic cliff, the president will leave hawaii tonight to try to work on a bargain between democrats and republicans. brianna keilar is traveling with the president in hawaii and joins us now. good morning, brianna. did the president cut his vacation short or was it planned all along? >> reporter: he did cut his vacation short from what was initially planned which was to go through the new year, so yes, he cut it
negotiating the fiscal cliff deal. the work they're still trying to get done. the first call comes from lee in florida. caller: i tried to call in yesterday, but everybody was concerned about this matter. let me give you a website that i have been e-mail in over 400 people. it is the website -- you go to search "cause of war." this is the biggest cover up by all of the politicians of their in washington, d.c., including both bushes and of mr. obama. host: and what does this have to do with the senate negotiating a fiscal of deal? caller: let me tell you something. if you go to the website listed on the left and upper side, united states -- each tax coming out of each state is going towards the or. -- war. i believe all of these politicians, mayors, governors should take a half cut pay to pay down the deficit. host: we are going to move on to darwin on the line for independents. caller: it is like the pentelikon, back in 1968 i was even fighting with the pentagon over budgets. you always had to have everything kept the same. nobody was going to change anything because next year there were go
vacation to deal with the fiscal cliff, just five days to go until we go over. >> threatening both coasts with workers snubbing up best and final contract offer. >> and more on the home front. we'll have more on the data and whether it can keep one of the best performing sectors of 2012, home builders going in 2013. >> data showing what some experts say is the slowest growth in spending since the 2008 recession. according to mastercard, spending polls units through christmas eve, retail sales rose just .7% from the year before. the national retail federation says it is forecasting a 4% jump in sales. we'll continue to get trickles of data as we progress through this last week. it is still an important week, the final week before the new year in terms of retail sales for these guys. >> historically positive the last five days of the year and blends into the first couple of days of the new year. generally get a nice year-end effect. we'll get claims tomorrow. new home sales tomorrow. chicago pmi on friday. but this idea that retail is soft, was it the fiscal cliff? was it sandy? was it some
're out, stay out. live in green belt tonight, ko im, 9 newsp. >> thanks, ko. >>> the fiscal cliff deadline is looming and senate leaders are trying to avert so the- called fiscal cliff. president obama says there is still time to reach an agreement, but he chastised lawmakers for waiting until the last minute. >> we're now at the point where in just a couple of days, the law says that every american's tax rates are going up. every american's paycheck will get a lot smaller. that would be the wrong thing to do for our economy. >> divided government is a good time to solve hard problems. in the next few days, leaders in washington have an important responsibility to work together to do just that. >> congressional leaders could present legislation to senators as early as tomorrow with a vote possible on sunday or monday. >>> coming up on 9 news -- ♪ [music] ♪ a local music legend dies. we'll have a look back at the career of mike aldredge. >>> welcome back, everybody. local blue grass music legend mike aldredch has died of cancer. he would have been 74 tomorrow. ♪ [music]
-done, bill. thanks. just ahead, with the country only three days away now from the edge of the fiscal cliff, we're going to tell you what it could mean for you and your wallet. >>> tonight in washington, the pressure is on, the clock is ticking, the countdown to the so called fiscal cliff hits the 72-hour mark in just a few minutes. while congress is hoping for a hail mary deal to avoid taking a plunge over the fiscal cliff, most americans are wondering what is wrong with these people, and how exactly social security going to affect them. so, we went ahead and crunched the numbers for you. there they were again. hour nation's leaders trooping into the white house one more time. and afterwards, the president. >> the hour for immediate action is here. it is now. >> you've heard that before. but today on the brink of the fiscal cliff, a glimmer of -- well, something. >> i'm optimistic we may still be able to reach an agreement that can pass both houses in time. >> but don't hold your breath. there is deep skepticism in washington that the leadership of our country will get its act together on
. >>> the dreaded fiscal cliff can potentially affect a wide range of health programs. >> cbs news' wyatt andrews explains. >> reporter: professor mallen like hundreds of medical researchers has already fallen off the fiscal cliff. her budget which relies on federal grants is being cut by 10% now. as the nih, the national institutes of health, prepares for the possibility of budget cuts later. >> it's as much bigger than just my lab. it's affecting all-academic labs across the country. >> reporter: mallen understands the nih decision but calls it a setback. >> my lab will have to shut down research projects that we know would -- could have profound impacts on curing human disease. we may have to get rid of some staff members. >> reporter: the nih tells us because of uncertainty in the budget awards at 90% of what was perhapsed to researchers -- promised to researchers will be the standard at least for now and the threat of the cut raised alarms. >> some of the cuts -- >> reporter: at johns hopkins the doctor is under pressure to reduce the experiments he designed in mice in search for a cure for
falls where on the map. it's coming up. >>> all right. now to the looming fiscal cliff and the last-ditch effort to stop the nation from going over. >> the president is meeting with congressional leaders just about an hour ago. any last-minute deal will likely have to wait until the senate returns. >> reporter: president obama summoned congressional leaders to the white house today hoping for a deal to avoid the fiscal cliff. the power brokers have four days before the government starts slashing military and domestic spending. president obama is pushing for a stop gap measure that with avoid faxes on people earning less than $25,000. on capitol hill frustration is growing. both republicans and democrats sound look they have given up. outside the capitol democrats hauled out a times square ball prop with the emergency, don't drop the ball. >> the republicans refuse to ask those with the most in our society to give a little bit more. >> reporter: a simple stop gap measure is not what many in washington had hoped for. republicans blame president obama for the collapse of a bigger deal
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